论合伙型私募基金有限合伙人的退伙财产请求权——合伙企业法和投资基金法的不同维度  

The Claim of a Limited Partner of Partnership-type Private Fund to Property upon Withdrawal from Partnership——Different Dimensions between Partnership Enterprise Law and Securities Investment Fund Law

作　　者：刘俊海[1] Liu Junhai

机构地区：[1]中国人民大学法学院,北京100872

出　　处：《政治与法律》2021年第6期79-97,共19页Political Science and Law

基　　金：国家市场监督管理总局2020年度重点课题“法治化营商环境中的市场主体法律问题研究”(项目编号:2020K20086)的研究成果。

摘　　要：我国《合伙企业法》和我国《证券投资基金法》的调整对象、设计理念和法律规范有一定差异,致使有限合伙人是否享有退伙财产请求权、退伙财产请求权的法律性质和实现途径在这两部法律的框架下存在同案不同判现象。从合伙企业法角度看,退伙财产请求权体现为抽象意义上的期待权与具体意义上的债权,后者具有债权性、社团性和可诉可裁可执行性。退伙财产请求权的义务主体是合伙企业,而非普通合伙人。普通合伙人的执行事务合伙人地位并不为其创设退伙财产给付之债及其对该债务的无限连带责任。普通合伙人连带责任旨在维护合伙企业外部交易安全,而非担保内部退伙财产之债。我国《合伙企业法》第51条规定的退伙结算制度为效力性规范,核心是尊重全体合伙人意思自治。封闭式合伙型私募基金及其普通合伙人均不对有限合伙人承担保本保息保收益的退伙财产给付之债。合伙型私募基金的本质是基金产品而非企业主体,裁判基金退伙财产之争应优先适用我国《证券投资基金法》。Due to differences between the Partnership Law and the Securities Investment Fund Law in terms of regulatory target, designing philosophy and legal norms, there are different court rulings for similar cases on whether a limited partner enjoys the claim to property upon withdrawal from partnership, the legal nature and the approach to the realization of the claim to property upon withdrawal from partnership under the frameworks of such two laws. From the perspective of Partnership Law, the claim to property upon withdrawal from partnership is reflected as the expectation right in abstract sense and the creditor’s right in concrete sense, the latter enjoying the credit nature, association nature and the nature of being subject to litigation, arbitration and enforcement. The subject assuming the obligation related to the claim to property upon withdrawal from partnership is the partnership rather than the general partner. The position of the general partner as the executive partner does not create a debt of property upon withdrawal from partnership for him/her and his/her unlimited joint and several liability for such debt. The joint and several liability imposed on the general partner is to secure the transaction outside the partnership rather than to guarantee the internal debt of property upon withdrawal from partnership. The partnership-withdrawn settlement system set forth in Article 51 of Partnership Law is a norm on validity, with the core of respecting free will of all partners. A closed partnership-type private fund and its general partners shall not undertake the duty to clear the debt of property upon withdrawal from partnership with guaranteed investment, interests and benefits to a limited partner. Because the core nature of partnership-type private fund is a fund product rather than an enterprise subject, Securities Investment Fund Law prevails when a dispute over property upon withdrawal from partnership is adjudicated.

关 键 词：有限合伙 普通合伙人 退伙财产 结算程序 私募基金 证券投资基金法 

分 类 号：DF52[政治法律—民商法学]